AUD/USD 4H chart shows a bullish setup within a well-defined ascending channel, with clear support zones and targets mapped out. Here's a breakdown of the key elements visible on the chart:
🔍 Technical Breakdown:
✅ Trend:
Ascending channel suggests ongoing bullish momentum.
Recent price action appears to have bounced from the channel’s lower boundary and a strong support zone.
🟢 Support Levels:
Strong support: 0.6483 – 0.6499
Support zone: Around 0.6500 – 0.6510
These zones are holding well and are critical for validating the bullish move.
🟠 Supply Zone / Resistance:
Supply zone: Around 0.6585 – 0.6595
Expect possible short-term rejection before continuation.
🎯 Bullish Targets:
1. First Target: 0.6592 (minor resistance / supply zone)
2. Second Target: 0.6620 (intermediate resistance)
3. Final Weekly Target: 0.6680 – 0.6688 (top of channel)
🔁 FVG (Fair Value Gaps):
Marked multiple FVGs below current price level, now likely to act as support zones.
📈 Trade Idea (Based on Chart):
Entry: Near current level (0.6540–0.6535) if support holds.
SL (Stop Loss): Below 0.6480 (under strong support).
TP1: 0.6592
TP2: 0.6620
TP3: 0.6680
🔍 Technical Breakdown:
✅ Trend:
Ascending channel suggests ongoing bullish momentum.
Recent price action appears to have bounced from the channel’s lower boundary and a strong support zone.
🟢 Support Levels:
Strong support: 0.6483 – 0.6499
Support zone: Around 0.6500 – 0.6510
These zones are holding well and are critical for validating the bullish move.
🟠 Supply Zone / Resistance:
Supply zone: Around 0.6585 – 0.6595
Expect possible short-term rejection before continuation.
🎯 Bullish Targets:
1. First Target: 0.6592 (minor resistance / supply zone)
2. Second Target: 0.6620 (intermediate resistance)
3. Final Weekly Target: 0.6680 – 0.6688 (top of channel)
🔁 FVG (Fair Value Gaps):
Marked multiple FVGs below current price level, now likely to act as support zones.
📈 Trade Idea (Based on Chart):
Entry: Near current level (0.6540–0.6535) if support holds.
SL (Stop Loss): Below 0.6480 (under strong support).
TP1: 0.6592
TP2: 0.6620
TP3: 0.6680
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.